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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple(r)

  • #2,101
  • Edited 12:57pm Jul 27, 2019 12:11pm | Edited 12:57pm
Quoting Khamislbitta
is there any way to set up this beautiful strategy over the phone with MT4? Thanks for your beautiful work! keep up the good work.
I don't trade using my phone so I can't help you, but I know some others here do and can help you hopefully.
Always a Student, Never a Master - Emulate What Works
  • #2,102
  • Jul 28, 2019 7:34am Jul 28, 2019 7:34am
Quoting Reitilicios
{quote} It just happened to me this week. I had a Signal on the 4h (forgot the pair). I switched to the 1 minute to check the direction. It was going AGAINST the signals direction. I waited for about 45 min, checking around every 5 minutes. It still went in the other direction. After checking 1 1/2 hours later on the 4h Chart the HMA changed the colour and also the Candle. If I had taken the signal immediately I would have lost. By checking the 1 or 5 min, it saved me from losing. So guys I really suggest you follow RH here! Have a nice weekend...
If you don’t have time to baby sit the 1m charts for entry possible setting up a pending order to hit your target might make it more automated
  • #2,103
  • Jul 28, 2019 7:48am Jul 28, 2019 7:48am
Hey RH great thread man, congratz, you've been trading this methodology for a long time I believe, on a general basis what is the winrate you have been experiencing? Don't get me wrong, don't care if it is 50%, I know the system is solid, just want to make sure I find the sweet spot between R:R in my models for testing.
thinking outside the box
  • #2,104
  • Edited Jul 29, 2019 1:00am Jul 28, 2019 8:21am | Edited Jul 29, 2019 1:00am
Quoting Mercennary
Hey RH great thread man, congratz, you've been trading this methodology for a long time I believe, on a general basis what is the winrate you have been experiencing? Don't get me wrong, don't care if it is 50%, I know the system is solid, just want to make sure I find the sweet spot between R:R in my models for testing.
I'm very hesitant to say exactly because most newer traders do not yet understand that the win rate is relatively UNIMPORTANT.

I would likely be criticized if I put any number less than 100% and they would also likely think that only 40% is terrible (which it's not if you use the right R:R).

But for me, my personal win rate using these methods is over 50% AND my "reward" on average is much higher than my "risk" per trade on average.

Two big keys to getting a higher winning percentage of trades is very much based on which pairs you trade and which time frame(s) you trade.
Always a Student, Never a Master - Emulate What Works
  • #2,105
  • Jul 28, 2019 8:42am Jul 28, 2019 8:42am
Quoting RobinHood
{quote} I'm very hesitant to say exactly because most newer traders do not yet understand that the win rate is relatively UNIMPORTANT. I would likely be criticized if I put any number less that 100% and they would also likely think that only 40% is terrible (which it's not if you use the right R:R). But for me, my personal win rate using these methods is over 50% AND my "reward" on average is much higher than my "risk" per trade on average. Two big keys to getting a higher winning percentage of trades is very much based on which pairs you trade...
I would agree. My last 13 trades using this system were in my opinion winners because I did not lose money on them. Some broke even with a few pips, others stopped on trail and a couple went 2R. In that respect I am a very happy bunny as this has never happened on all the other systems I have tried.We will see what this week brings. Keep up the good work.
  • #2,106
  • Jul 28, 2019 10:24am Jul 28, 2019 10:24am
Quoting TheSpoof
So here is something I wanted to share about over analyzing charts and going by what you think might happen as opposed to just following what the indicators are showing you. Here is a very profitable trade on oil that I missed this week simply because I didn't like the "look" of the entry candle - what ever that means The indicators were telling me that price is going down, but I had to interject my feelings onto the chart and as a consequence I lost out on a beautiful trade. If I was wrong I would have lost 1R...no big deal but I missed...
Hi Spoof, sorry for quoting an old post. I was reading what you said here and I pretty much agree, but looking at this chart, by trailing stop 2 candles back, you would have been stopped out somewhere near your entry? Unless you don't trail immediately after your entry, and wait till after 1 R profit to trail, then you would have gotten some nice profit. But that would be against the policy of cutting loss early. Pls correct me if im wrong, thanks.
Detach yourself from the value of money - Mr. Pip
  • #2,107
  • Jul 28, 2019 3:29pm Jul 28, 2019 3:29pm
Thank you for this. I had just started working my way through the enormous original thread. I am going to download the pdfs today and starting working my way through them.

Am I safe to assume the indicators etc posted in the OP are the current ones?

David
  • #2,108
  • Jul 28, 2019 3:51pm Jul 28, 2019 3:51pm
Quoting itsDavid
Thank you for this. I had just started working my way through the enormous original thread. I am going to download the pdfs today and starting working my way through them. Am I safe to assume the indicators etc posted in the OP are the current ones? David
Yes.
Always a Student, Never a Master - Emulate What Works
  • #2,109
  • Jul 28, 2019 7:37pm Jul 28, 2019 7:37pm
Hello RobinHood,
I am Johan and I am a newbie in trading world, lost my first account and half of my 2nd account. And now trying to demo trading again.
I have read Trading made simple thread by Big E. And now your thread, really appreciate all yours hardwork. And I feel that I have a soul to try tading again because of your system, and I just sign up to FF just to follow your thread.

I have a little input if you don't mind. Because all of us especially if using your system are trading with 4H timeframe. How if you make one indicator that show us a status of Daily timeframe, whether it's buying or selling, and this conclusion is taken based on the same system in the daily timeframe. So The idea is, if H4 show us to sell, then we look on daily status is it buy or sell? If daily also confirm sell, then we go short. But if Daily is showing buy then the H4 timeframe which is telling us sell maybe just a small reversal and we can avoid it.

Sorry if my English is bad, I don't know if you can understand it or not.

By the way thank you for sharing this system with us. I really appreciate it.
  • #2,110
  • Jul 28, 2019 9:41pm Jul 28, 2019 9:41pm
Quoting Josiong
Hello RobinHood, I am Johan and I am a newbie in trading world, lost my first account and half of my 2nd account. And now trying to demo trading again. I have read Trading made simple thread by Big E. And now your thread, really appreciate all yours hardwork. And I feel that I have a soul to try tading again because of your system, and I just sign up to FF just to follow your thread. I have a little input if you don't mind. Because all of us especially if using your system are trading with 4H timeframe. How if you make one indicator that show us...

OMG.. i'm so speechless.. lol
  • #2,111
  • Jul 28, 2019 10:12pm Jul 28, 2019 10:12pm
Quoting moRTaL
{quote} OMG.. i'm so speechless.. lol
English just isn't his first language don't be mean..

Josiong from what I can understand you are correct.. you want to trade in the same direction on the daily.. But it doesn't always work out that way so watch for turning points in the market.. because H4 is going to turn b4 the daily if that makes sense..
  • #2,112
  • Jul 28, 2019 10:50pm Jul 28, 2019 10:50pm
Quoting RobinHood
{quote} I'm very hesitant to say exactly because most newer traders do not yet understand that the win rate is relatively UNIMPORTANT. I would likely be criticized if I put any number less that 100% and they would also likely think that only 40% is terrible (which it's not if you use the right R:R). But for me, my personal win rate using these methods is over 50% AND my "reward" on average is much higher than my "risk" per trade on average. Two big keys to getting a higher winning percentage of trades is very much based on which pairs you trade...
That was a brilliant answer. by giving the exact win rate, you might attract some disrespectful criticism. The system works, what you need is to follow the rules in page #1 religiously.
  • #2,113
  • Jul 28, 2019 11:12pm Jul 28, 2019 11:12pm
Quoting Josiong
Hello RobinHood, I am Johan and I am a newbie in trading world, lost my first account and half of my 2nd account. And now trying to demo trading again. I have read Trading made simple thread by Big E. And now your thread, really appreciate all yours hardwork. And I feel that I have a soul to try tading again because of your system, and I just sign up to FF just to follow your thread. I have a little input if you don't mind. Because all of us especially if using your system are trading with 4H timeframe. How if you make one indicator that show us...
In an ideal world the Daily will be in the same signal trend as you see in the H4... which will confirm that over that time price action will continue in the higher time frame trend. Last week I noticed the candles on the H4 were +3-5 candles however on the Daily it was still closing the first candle I then entered those trades on the Daily and had good success. I closed all my trades Friday evening however I noticed this morning 3 pairs were +25 - 30 pips. Going forward I will just put a trailing stop as I look for TP2, TP3, TP4 on the daily. All in the vain of letting your good trades where you are right continue.

Cheers and goodluck. I hope that has helped answered your question.
The more you learn, the more you see
  • #2,114
  • Edited 11:52pm Jul 28, 2019 11:34pm | Edited 11:52pm
Know which timeframe and the swing you want to trade ....

Attached Image


Example below, EURJPY

Weekly

Attached Image (click to enlarge)
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Daily

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY D1 Jul 29 29-07-2019 14-47-57.png Size: 52 KB


H4

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY H4 Jul 29 pre-LO 29-07-2019 14-48-26.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,115
  • Jul 28, 2019 11:51pm Jul 28, 2019 11:51pm
Good morning everyone.

Attached Image (click to enlarge)
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[
It's not over, until I win.
  • #2,116
  • Jul 28, 2019 11:58pm Jul 28, 2019 11:58pm
Quoting ItaTrader93
Good morning everyone. {image}[

You have a Sunday candle on your chart....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,117
  • Jul 29, 2019 12:41am Jul 29, 2019 12:41am
Quoting emmanuel7788
{quote} {image} That is a Weekly scan after NY closed that weekend.That is not a candle for sell entry on Weekly. That Weekly candle was good to have a sell bias in the following week trading H4. That Weekly APB/HA candle close below the 5EMA (Yellow) but very near to the HMA line. When I am in doubt, I would look in the Data Window and see the actual data. I look at EVERYTHING and not just the APB or the HA candle action in isolation. Note the previous 3 week bars for example, do we see a bearish reversal type pattern? {image} Looking at it now...
Hi Emmanuel. This means if the weekly close is inside the channel of the HMA and the EMA then no trade on that pair? If the weekly close is good (outside of the lines) then we check the last daily close?
Just trying to improve my analysis.
  • #2,118
  • Jul 29, 2019 12:45am Jul 29, 2019 12:45am
Quoting Khamislbitta
is there any way to set up this beautiful strategy over the phone with MT4? Thanks for your beautiful work! keep up the good work.
No not on mt4 mobile apps.

There are 2 ways I know of to get this method on mobile and that is the Trade Interceptor apk which can be downloaded off google play store. Their charts can be set up with HA bars and has the colour coded HMA.

The other route is to remote in to your main computer that has your mt4 running on it. RemotePC is a good place to start as its a very simple process to get up and running and is totally free for connecting to one computer.

Hope this helps you.

Cheers
Andy
  • #2,119
  • Jul 29, 2019 12:58am Jul 29, 2019 12:58am
Just done a quick scan of the pairs I watch waiting for this candle to close in a few minutes.

eur/chf might be of interest later

gbp/aud a bit late joining the party

eur/usd possible continuation trade?

I am just a bit weary of trading today as we will have the end of month fix today and that can cause a few strange fluctuations that aren't normally present day to day.
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  • #2,120
  • Jul 29, 2019 1:23am Jul 29, 2019 1:23am
Quoting ItaTrader93
Good morning everyone. {image}[
What was your reasoning in taking that trade? I looked at daily and H4, there were clearly no signs of a short with this method.
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